MINNESOTA FORECLOSURE ACTIVITY UP 15 PERCENT IN APRIL

Foreclosure Activity Level Up 83 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 3,547 Minnesota properties in April, a 15 percent increase from the previous month, and 83 percent above the level reported for April 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Foreclosure activity in Minnesota rose again in April to nearly double the amount reported for this time one year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “Contributing to the state’s rise in foreclosures is its growing unemployment rate, which is now above 8.1 percent, along with the rise in mortgage payments among homeowners who bought more expensive homes than they could afford during the housing boom.”

 

Minnesota ranked 20th in the country in total properties with foreclosure filings for April. One in every 650 Minnesota housing units received a foreclosure filing during the month, the 18th highest state foreclosure rate in the nation.

 

Hennepin County accounts for nearly half of state’s foreclosure activity in April

Hennepin County led the state, reporting 1,408 properties with foreclosure filings for the month. Ramsey County reported 634 properties with foreclosure filings, the state’s second highest county total. Anoka County came in third highest, reporting 338 properties with foreclosure filings. Washington County came in fourth, documenting 225 properties with foreclosure filings, while the fifth highest total was in Dakota County, where 182 properties with foreclosure filings were reported for the month.

 

Sherburne County post state’s top foreclosure rate in April

Sherburne County topped the list, with one in every 288 housing units receiving a foreclosure filing — 2.3 times the state average. Ramsey County had the second highest foreclosure rate, with one in every 338 housing units receiving a foreclosure filing — 1.9 times the state average. Wright County documented the third highest foreclosure rate, where one in every 347 housing units received a foreclosure filing during the month — 1.9 times the state average.

 

State a moderate contributor to nation’s foreclosure total in April

Minnesota accounted for 1 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is filed against a property during the month — which is extremely rare — only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

          Minnesota Foreclosure Market Data by County – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

Minnesota

62

0

2,280

0

1,205

3,547

650

15.27

82.84

 

 

 

 

 

 

 

 

 

 

Aitkin

0

0

0

0

2

2

8,132

 n/a

 n/a

Anoka

0

0

248

0

90

338

369

-6.37

704.76

Becker

0

0

0

0

1

1

18,433

 n/a

 n/a

Beltrami

2

0

13

0

15

30

616

500.00

2900.00

Benton

2

0

0

0

6

8

2,053

166.67

60.00

Big Stone

0

0

0

0

0

0

 n/a

 n/a

 n/a

Blue Earth

0

0

0

0

1

1

25,411

 n/a

0.00

Brown

0

0

0

0

0

0

 n/a

 n/a

 n/a

Carlton

0

0

0

0

2

2

7,757

 n/a

-33.33

Carver

0

0

39

0

4

43

776

-4.44

26.47

Cass

0

0

0

0

2

2

12,770

 n/a

 n/a

Chippewa

0

0

2

0

2

4

1,497

100.00

-42.86

Chisago

0

0

6

0

23

29

663

31.82

123.08

Clay

0

0

0

0

11

11

2,100

57.14

-21.43

Clearwater

0

0

0

0

0

0

 n/a

 n/a

 n/a

Cook

0

0

1

0

0

1

5,516

0.00

 n/a

Cottonwood

0

0

0

0

0

0

 n/a

 n/a

 n/a

Crow Wing

0

0

0

0

6

6

6,631

500.00

500.00

Dakota

0

0

96

0

86

182

851

-36.14

-24.79

Dodge

0

0

0

0

1

1

7,824

 n/a

 n/a

Douglas

0

0

0

0

1

1

19,944

0.00

-50.00

Faribault

0

0

1

0

3

4

1,825

100.00

0.00

Fillmore

0

0

2

0

2

4

2,428

100.00

300.00

Freeborn

0

0

0

0

0

0

 n/a

 n/a

-100.00

Goodhue

0

0

0

0

11

11

1,821

120.00

-50.00

Grant

0

0

0

0

0

0

 n/a

 n/a

 n/a

Hennepin

0

0

1,060

0

348

1,408

355

37.63

69.84

Houston

0

0

0

0

1

1

8,651

0.00

 n/a

Hubbard

0

0

0

0

9

9

1,447

50.00

80.00

Isanti

0

0

0

0

7

7

2,246

75.00

600.00

Itasca

0

0

0

0

1

1

27,104

 n/a

0.00

Jackson

0

0

0

0

0

0

 n/a

 n/a

 n/a

Kanabec

0

0

0

0

2

2

3,811

 n/a

 n/a

Kandiyohi

0

0

0

0

7

7

2,833

40.00

-41.67

Kittson

0

0

0

0

0

0

 n/a

 n/a

 n/a

Koochiching

0

0

0

0

4

4

2,027

 n/a

-20.00

Lac Qui Parle

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lake

0

0

0

0

5

5

1,499

400.00

25.00

Lake Of The Woods

0

0

0

0

0

0

 n/a

 n/a

 n/a

Le Sueur

0

0

0

0

2

2

6,229

100.00

0.00

Lincoln

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lyon

0

0

2

0

0

2

5,499

 n/a

100.00

Mahnomen

0

0

0

0

0

0

 n/a

 n/a

 n/a

Marshall

0

0

0

0

1

1

4,933

 n/a

 n/a

Martin

0

0

0

0

4

4

2,513

33.33

0.00

McLeod

0

0

0

0

5

5

3,138

400.00

25.00

Meeker

0

0

1

0

0

1

10,806

0.00

 n/a

Mille Lacs

10

0

0

0

11

21

581

133.33

950.00

Morrison

0

0

0

0

2

2

7,995

100.00

 n/a

Mower

0

0

0

0

2

2

8,520

 n/a

 n/a

Murray

0

0

0

0

0

0

 n/a

 n/a

 n/a

Nicollet

0

0

0

0

0

0

 n/a

 n/a

 n/a

Nobles

0

0

0

0

0

0

 n/a

 n/a

 n/a

Norman

0

0

0

0

1

1

3,511

 n/a

 n/a

Olmsted

0

0

29

0

2

31

1,907

-3.13

1450.00

Otter Tail

0

0

0

0

4

4

8,885

 n/a

-88.89

Pennington

0

0

0

0

0

0

 n/a

 n/a

 n/a

Pine

0

0

0

0

5

5

3,323

 n/a

150.00

Pipestone

0

0

0

0

0

0

 n/a

 n/a

 n/a

Polk

0

0

0

0

1

1

14,635

 n/a

0.00

Pope

0

0

0

0

6

6

1,072

100.00

-33.33

Ramsey

0

0

346

0

288

634

338

22.63

194.88

Red Lake

0

0

0

0

0

0

 n/a

 n/a

 n/a

Redwood

0

0

0

0

2

2

3,669

 n/a

0.00

Renville

0

0

0

0

2

2

3,740

 n/a

100.00

Rice

0

0

1

0

21

22

1,076

10.00

-29.03

Rock

0

0

0

0

0

0

 n/a

 n/a

 n/a

Roseau

0

0

0

0

0

0

 n/a

 n/a

 n/a

Saint Louis

0

0

0

0

26

26

3,843

-18.75

-62.86

Scott

0

0

109

0

3

112

404

-5.88

45.45

Sherburne

48

0

19

0

43

110

288

52.78

243.75

Sibley

0

0

0

0

2

2

3,230

 n/a

100.00

Stearns

0

0

35

0

8

43

1,384

0.00

760.00

Steele

0

0

0

0

3

3

4,988

200.00

50.00

Stevens

0

0

0

0

0

0

 n/a

 n/a

 n/a

Swift

0

0

0

0

1

1

4,923

 n/a

 n/a

Todd

0

0

0

0

1

1

12,881

 n/a

 n/a

Traverse

0

0

0

0

0

0

 n/a

 n/a

 n/a

Wabasha

0

0

1

0

2

3

3,410

 n/a

50.00

Wadena

0

0

0

0

5

5

1,358

400.00

 n/a

Waseca

0

0

0

0

3

3

2,631

 n/a

 n/a

Washington

0

0

209

0

16

225

394

-6.64

525.00

Watonwan

0

0

0

0

0

0

 n/a

 n/a

 n/a

Wilkin

0

0

0

0

1

1

3,250

 n/a

 n/a

Winona

0

0

0

0

0

0

 n/a

-100.00

 n/a

Wright

0

0

60

0

78

138

347

-29.95

-9.21

Yellow Medicine

0

0

0

0

1

1

4,970

 n/a

 n/a

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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